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					                                                                                                                                                                                                                                                                                     ARAB TIMES, FRIDAY, NOVEMBER 5, 2010
BUSINESS                                                                                                                                                                                                                                                                                                                             35


                                                                                                             Algeria looms over Orascom Tel Q3 results
                                                                                                                                                                                                                                                                                                      Emirates airlines General
                                                                                                                                                                                                                                                                                                      Director for France Jean-Luc
     Concerns about the fate of Egyptian group                                    The unit has faced increasingly tight regulation                            The release of Djezzy’s subscriber numbers and                                                                                          Grillet poses before a press
     Orascom Telecom’s Algerian unit and a$6.6 billion                        since last year and the Algerian government says                             revenues on Sunday should indicate how well the                                                                                            conference at the Emirates
     merger deal with Vimpelcom are set to overshad-                          it intends to nationalise it.                                                unit is holding up. Algeria has blocked the firm                                                                                           offices in Paris, on Nov 3.
     ow an expected drop in third-quarter profit.                                 Analysts say a low offer from the state could                            from transferring money out of the country, making                                                                                         The Dubai national carrier on
        The Cairo-based group is expected to report net                       threaten billionaire Naguib Sawiris’s plan to sell                           it harder for it to buy vital equipment.                                                                                                   Nov 1, posted a 351 percent
     income of $135.2 million on Sunday, down from                            majority stakes in Orascom and Italy’s Wind to                                  Both Vimpelcom and Sawiris, who is chairman                                                                                             increase in net profits in six
     $180.9 million a year earlier, based on a Reuters                        Vimpelcom, a deal that would create the world’s                              of Orascom and Weather Investments, have said                                                                                              months, reaching 3.4 billion
     poll of six bankers and brokers.                                         fifth-biggest mobile operator by subscribers.                                they expect the deal to go through regardless of                                                                                           dirhams (925 million), on the
        Estimates ranged from $48 million to $289 mil-                            “The value of OT (Orascom Telecom) itself, in                            what happens to Djezzy.                                                                                                                    back of growing customer
     lion. But much more hinges on what happens to                            our view, depends on whether the deal between                                   Two one-off transactions may help boost                                                                                                 demand, a statement said.
     Orascom’s most profitable asset, leading Algerian                        (OT owner) Weather Investments and Vimpelcom                                 Orascom’s bottom line in the quarter, CI Capital                                                                                           (AFP)
     cell phone operator Djezzy.                                              goes through,” Renaissance Capital said in a note.                           analyst Amr Elalfy said. (RTRS)




                                                                                                                                                       weekly market roundup
                                                                                                                                                                                                                                  Global Investment House


Kuwait bourse continues bullish trend                                                                                                                                                                                                    from a low of 1.6 percent in November            ing an overall score of 8.0, and Lebanon
                                                                                                                                                                                                      Commentary
                                          Latest financial results announced of the KSE listed companies                                                                                                                                 2009 as the oil-reliant economy recovers         third with 7.6. According to the report, the
                                                                                                                                                                                            Kuwait Stock Exchange (KSE) contin-          from last year’s sharp contraction. The          rankings were calculated by looking at five
                                                                             Third Quarter Results                                                                                       ued its bullish trend for the second week in
                                                                      Reuters                     Net profit KD mn                                                  EPS – fils                                                           September rate is the second highest in the      different indices; Size of Government
Company name                                                          Code                     Sept 10        Sept 09            Change %              Sept 10               Sept 09     line with the increased trading activity wit-   Gulf after Saudi Arabia but is still well        Expenditure, Taxes and Enterprises;
Kuwait Finance House                                                  <KFIN.KW>                  97.34         106.38               -8.50%                 39.60                43.20    nessed in the market. Some stocks were          below a record high of 11.6 percent seen in      Commercial and Economic Law and
National Investments Co.                                              <NINV.KW>                   6.21          -5.06                      -                7.00                -6.00    seen back to live recording high levels not
Securities Group Co. (31-3) *                                       <SGCK.KW>                     1.61           6.59              -75.60%                  6.30                25.81                                                    August 2008.                                     Security of Property Rights; Access to
Global Investment House                                             <GLOB.KW>                   -46.24        -104.17                      -              -38.00               -85.00
                                                                                                                                                                                         seen for a long time, while investors are          Kuwait hopes to earn up to KD4bn              Sound Money; Freedom to Trade
Al Qurain Holding Company                                             <IHCK.KW>                   0.10         -29.73                      -                0.35               -52.41    being more optimistic about the coming          (US$14bn) in non-oil revenue in 2014, the        Internationally; Regulation of Credit,
Tamdeen Investment Company                                            <TAMI.KW>                   2.78           2.43               14.25%                  9.15                  7.85   performance of the market with a hope to        final year of a four-year development plan,      Labor and Business. However, the Fraser
Kuwait China Investment Company                                       <KCIC.KW>                   2.14          12.06              -82.23%                  2.70                15.08    see more trading deals that are able to
Kuwait Insurance Co.                                                  <KINS.KW>                   3.18          -4.49                      -               16.52               -23.12                                                    the deputy prime minister for economic           Institute explained that the report uses data
Warba Insurance Co.                                                  <WINS.KW>                    2.51           2.27               10.72%                 14.57                13.28    waken up the investing desire once again.       affairs said this week. “It will be almost       from 2008, as it is the most recent year that
Kuwait Re-Insurance                                                 <KWRE.KW>                     1.74           0.94               84.85%                 15.83                  8.57   Global’s      weighted      General     Index   KD3.8bn to KD4bn in the fourth year of           data is available.
Aqar Real Estate Investment Company                                 <AQAR.KW>                     0.05          -0.05                      -                0.21                -0.21    <.GLOB> concluded the month of October          the plan,” Sheikh Ahmad Al-Fahad Al-                Three months after Kuwait Investment
Munshaat Real Estate Projects Company                               <MUNS.KW>                    -8.88           1.47                      -              -28.00                  5.00   on Sunday achieving 1.63 percent gain
Manazel Holding Co.                                                 <MANK.KW>                    -1.56          -8.79                      -               -2.19               -12.30                                                    Sabah told reporters on the sidelines of an      Authority’s      (KIA)     investment      of
Al-Mudon Intl. Real Estate Co.                                       <ALMK.KW>                    0.13           0.31              -59.02%                  1.32                  3.13   after losing some of its profits recorded two   economic forum. The Gulf Arab state’s            US$800mn on the world’s biggest Initial
Hilal Cement Co.                                                    <HCCK.KW>                     0.51           0.32               62.07%                  7.00                  5.00   session before. However, it managed to          parliament       approved     a    KD30bn        Public Offering (IPO), Agricultural Bank
Kuwait Gypsum Manufacturing & Trading Co.                           <GYPK.KW>                     0.40           0.51              -21.13%                 21.49                17.11    continue the week retrieving all the men-
Independent Petroleum Group Co.                                       <IPGK.KW>                   2.95           4.24              -30.40%                 20.40                29.28                                                    (US$104.3bn) four-year development plan          of China (ABC) in July, KIA’s second
Privatization Holding Company                                        <KPPC.KW>                    1.97           4.35              -54.67%                  2.67                  5.72
                                                                                                                                                                                         tioned gains and adding to it. The index        in February aimed at decreasing its depend-      attempt of investing US$1bn in Hong Kong
United Projects Company                                              <UPAC.KW>                    3.11           3.16               -1.73%                 39.00                40.00    concluded the week up by 0.75 percent and       ence on oil, and boosting private sector         IPO in American International Assurance
Kuwait Resorts Company                                              <MUNK.KW>                     0.84          -1.29                      -                4.62                 -7.11   closed at 222.27 point. On a year-to-date       participation in projects. Kuwait is the
Alrai Media Group Company                                               ALRA.KW                   2.89           3.51              -17.67%                 21.62                41.37    basis, the market gains escalated to 19.35                                                       (AIA), the Asian life insurance subsidiary
Danah AlSafat Food                                                    <FISH.KW>                   1.22           0.01            8841.42%                   4.31                  0.05                                                   world’s fourth-largest oil exporter and the      of insurance giant American International
Sharjah Cement & Industrial Development                             <SCEM.KW>                     2.14           7.76              -72.50%                  3.90                14.06    percent. On the other hand, Kuwait Stock        plan includes investment in raising oil and
                                                                                                                                                                                         Exchange (KSE) <.KWSE> price was also                                                            Group, was listed last Friday, October 29.
Um Al-Quwain Cement Industries Co.                                  <QCEM.KW>                     0.86          -1.78                      -                2.40                -5.00                                                    natural gas production.                          KIA is among the major global institutions
Ras Al Khaimah Co. For White Cement & Const.                        <RKWC.KW>                     4.61           4.99               -7.55%                 10.00                11.00    up, adding 57.10 point (0.81 percent) to its
United Gulf Bank                                                    <UGBK.KW>                    12.00           5.25             128.75%                  14.63                  6.44   value and closed at 7,124.70 point. Total                     Oil Related                        that have signed up as cornerstone
Bahrain Kuwait Insurance Co.                                          <BKIK.KW>                   2.54           2.86              -11.09%                 39.00                44.00
                                                                                                                                                                                         market capitalization reached almost                                                             investors while Malaysian pension fund
Markaz Real Estate Fund                                              <MREF.KW>                    1.15          -2.05                      -               48.00               -99.00                                                       Latest revealed Kuwaiti crude oil prices      will invest US$200mn. This IPO is the
Al Eid Food Company                                                       Parallel                0.41           0.40                2.67%                  7.13                  6.95   KD36bn. Market breadth skewed towards           showed an increase of US$3.04 per barrel
Source: Kuwait Stock Exchange                                                                                                           * 6 Month result - ending in September 2010      advancers with 79 stocks rising against 66                                                       world’s second-largest IPO this year after
                                                                                                                                                                                                                                         during a week time as it settled at US$80.87     Agricultural Bank of China Ltd which
                                                                                                                                                                                         declining out of 167 shares traded this         on Wednesday, November 03, compared
                                                                                                                                                                                         week.                                                                                            raised US$21.9bn in Hong Kong and
                                                        KD T-Bonds issued by CBK - Tender Results                                                                                                                                        with a week earlier on Tuesday, October 26,      Shanghai in July. AIA IPO price in Hong
                                                                                                                                                                                            Trading activity increased with weekly       the Kuwait Petroleum Corporation (KPC)
Issue Date                          Maturity Date                            Life                           Volume - Mn                 KD-Bid                          Coupons
                                                                                                                                                                                         trading volume being at its highest levels                                                       Kong was set at 19.68 Hong Kong dollars
24/12/08                             23/12/09                                1YR                                 77                      249.00                          2.250%                                                          said. The recent increase in crude oil prices    per share, in the high-end guide price range
28/01/09                             27/01/10                                1YR                                 57                      155.50                          2.250%          since the week ending in March 11 after         on Tuesday came as the US dollar rate
11/03/09                             10/03/10                                1YR                                107                      602.00                          2.250%
                                                                                                                                                                                         reaching 2.36bn shares changing hands                                                            and closed with 17.12 percent on the first
18/03/09                             17/03/10                                1YR                                200                    1,261.00                          2.250%                                                          decreased versus other major currencies,         listing day. With the news released on
25/03/09                             24/03/10                                1YR                                 92                      749.00                          2.250%          (with a 36.04 percent from last week) at a      and US Federal Reserve System’s
08/04/09                             07/04/10                                1YR                                 80                      674.50                          2.250%          total traded value of KD313.86mn (11.02                                                          October 5, 2010 that KIA has invested
15/04/09                             14/04/10                                1YR                                 40                      391.00                          2.250%
                                                                                                                                                                                                                                         announcement on Wednesday increased US           $1bn on AIA IPO, this investment secured
22/04/09                             21/04/10                                1YR                                 84                      636.00                          2.000%          percent increase compared to the week           dollar rate. Kuwait’s current oil prices are
                                                                                                                                                                                         before). Trading volume and value was                                                            a profit of $170mn in 24 das. AIA IPO
29/04/09                             28/04/10                                1YR                                 70                      486.00                          2.000%                                                          still within the OPEC target, between US$        financing reached $17.8bn, receives seven
06/05/09                             05/05/10                                1YR                                125                      885.00                          2.000%          high on the Investment Sector, which
13/05/09                             12/05/10                                1YR                                100                      685.00                          2.000%                                                          70 and US$ 80 pb.                                times oversubscription in the Global
05/08/09                             04/08/10                                1YR                                100                      308.00                          1.500%          accounted for 34.83 percent (820.50mn              A Gulf OPEC delegate said that OPEC
12/08/09                              11/08/10                               1YR                                100                      250.00                          1.500%          shares) and 27.26 percent (KD85.55mn) of                                                         Offering section with an interested amount
                                                                                                                                                                                                                                         has no need to change production policy          reached $123bn.
19/08/09                             18/08/10                                1YR                                100                      340.50                          1.500%          the total volume and value traded, respec-
27/08/08                             25/08/10                                2YR                                 39                       39.00                          2.000%                                                          when the group next meets in December or
10/09/08                             08/09/10                                2YR                                 15                       15.00                          2.000%          tively. However, the company lists of the       even for the foreseeable future, and current             Recent Publications
16/09/09                             15/09/10                                1YR                                 75                      391.00                          1.500%          biggest volume and value traded shares          prices are fair. The delegate was speaking          In continuation of Global Investment
07/10/09                             06/10/10                                1YR                                 80                      453.50                          1.500%
09/12/09                             08/12/10                                1YR                                100                      354.25                          1.500%          were topped by a services and banking           after Saudi Arabian Oil Minister Ali Al-         House <GLOB.KW> coverage on the
23/12/09                             22/12/10                                1YR                                 80                      334.50                          1.500%          stocks. National Ranges Company                 Naimi on Monday moved up a notch the             MENA region we have come out during the
27/01/10                              26/01/11                               1YR                                 60                      376.50                          1.500%          <MAYA.KW> accounted for 10.72 percent           kingdom’s preferred price, saying US$70-         week with the following reports:
10/03/10                              09/03/11                               1YR                                100                      548.50                          1.250%
17/03/10                              16/03/11                               1YR                                200                      947.50                          1.250%          of the total traded weekly volume with          $90 a barrel was acceptable for consumers.       ● On October 31 – Qatar –We have come
24/03/10                              23/03/11                               1YR                                100                      548.00                          1.250%          252.56mn shares changing hands, while           Previously, Saudi Arabia had lent its back-      out with “Qatar Economic Report”. Real
07/04/10                              06/04/11                               1YR                                 80                      393.00                          1.250%          National Bank of Kuwait <NBKK.KW>               ing to a US$70-$80 range.
14/04/10                              13/04/11                               1YR                                 50                      293.00                          1.250%                                                                                                           GDP expected to grow 16.0 percent in
21/04/10                              20/04/11                               1YR                                 85                      504.50                          1.250%          accounted for 10.88 percent of the total           Earlier this week, Kuwait’s oil minister      2010 and 18.6 percent in 2011, while
28/04/10                              27/04/11                               1YR                                 70                      439.50                          1.250%          traded value for the week with                  said that he was comfortable with current        Inflation is expected to drop down to
05/05/10                              04/05/11                               1YR                                125                      699.00                          1.250%          KD341.14mn traded.
12/05/10                              11/05/11                               1YR                                 60                      375.00                          1.250%                                                          oil prices and that he did not expect any        around 1 percent in 2010 as rent and ener-
04/08/10                              03/08/11                               1YR                                100                      512.00                          1.250%             Sector-wise, the services sector was a       change in OPEC policy at a meeting in            gy prices cool down. A continuous budget
11/08/10                              10/08/11                               1YR                                100                      492.00                          1.250%          major booster adding 2.01 percent to its        Ecuador in December. Asked on the side-          surplus for Qatar is expected to post
18/08/10                              17/08/11                               1YR                                100                      467.00                          1.250%          index value, as measured by Global
25/08/10                              24/08/11                               1YR                                 40                      310.00                          1.250%                                                          lines of an economic forum in Kuwait City        QR36.7bn in 2010. Regarding the ongoing
08/09/10                              05/09/11                               2YR                                 15                       35.00                          1.375%          Services Sector Index. The index got the        about his view on prices, Sheikh Ahmad           development of natural gas in Qatar, the
15/09/10                              14/09/11                               1YR                                 75                      367.00                          1.250%          support from the increase in the biggest        Al-Abdullah Al-Sabah said he was “very           country is expected to produce 77mtpa of
31/05/06                              25/05/11                               5YR                                 75                      553.00                          6.375%
30/08/06                              24/08/11                               5YR                                 60                      982.00                          6.625%          market capitalization company in the            comfortable”. “I don’t expect anything,” he      LNG in 2010.
06/10/10                              05/10/11                               1YR                                 80                      546.00                          1.250%          Kuwaiti bourse, Zain <ZAIN.KW>, which           said, when asked about any expectations of       ● On November 02 – Saudi Arabia – We
12/05/10                             09/05/12                                2YR                                 33                       33.00                          1.375%          ended the week at its highest level since       a change in policy at the oil producing
21/06/06                             12/06/13                                7YR                                100                      498.00                          6.625%                                                                                                           have come out with “Saudi Arabia
                                                                                                                                                                                         September 7, 2009 at KD1.440.                   nations’ next conference in Quito on             Profitability Report - 9M2010”. Total of
                                                                                                                                                                                         Technically speaking, the stock is currently    December 11.                                     129 Saudi market listed shareholding com-
                                                                    Technical Tips of the Week                                                                                           facing a resistance at KD1.460 as it               OPEC crude oil supply rose in October
Company Name              Reuters Code      Medium Term        Closing         Support   Resistance          Medium-Term Investment                  Long-Term Investment                                                                                                                 panies reported a consolidated net profit of
                              Date of                           Price           Level      Level           Buy      Stop loss       Gain           Buy       Stop       Gain
                                                                                                                                                                                         touched it three time since last October        because of higher supply from Angola and         SR58.69bn, a growth of 33.95 percent
                         Recommendation                         (KD)                                                                                                                     without a successful break out, however, if     smaller increases from other members,            compared to the same period of the last
Al-Tamdeen Invest-         <TAMI.KW>        Watch to buy        0.350           0.335      0.390          0.350         0.350                      0.180        0.290       61.11%       succeeded the stock is open to rise to its      reducing adherence to agreed output tar-         year and an increase of 20.26 percent dur-
    ment Co.               Oct 31, 2010        Hold
National Industries        <NIND.KW>           Hold             0.375           0.360      0.405          0.300         0.370         23.33%       0.360        0.365        1.39%       next resistance at KD1.600. The Global          gets, a Reuters survey showed last week.         ing the third quarter 2010 compared to the
    Group                  Nov 01, 2010        Hold                                                                                                                                      Insurance Sector Index was the biggest          Supply from the 11 members of the                corresponding period of 2009. Out of these
ZAIN                        <ZAIN.KW>          Hold             1.420           1.360      1.460          1.200         1.330         10.83%       1.200        1.250        4.17%       gainer for the week, adding 2.23 percent to     Organization of the Petroleum Exporting
                           Nov 02, 2010        Hold                                                                                                                                                                                                                                       129 companies, 102 have achieved a net
Salbookh Trading Co.       <SALB.KW>           Hold             0.078           0.073      0.080          0.068         0.078         14.71%       0.085        0.085                    its value, supported by a 15.15 percent         Countries with output targets, all except        profit of SR61.32bn, while 27 companies
                           Nov 03, 2010     Watch to buy                                                                                                                                 increase in the share price of Kuwait           Iraq, has averaged 26.79mn barrels per day       recorded aggregate losses amounted to
Portland Cement Co.        <PCEM.KW>           Hold             1.740           1.660      1.870          1.300         1.540         18.46%       1.100        1.300       18.18%       Insurance Company <KINS.KW>.                    (bpd) during October, up from 26.63mn
                           Nov 04, 2010        Hold                                                                                                                                                                                                                                       SR2.63bn. Out of the 102 companies
United Real Estate         <UREK.KW>           Hold             0.093           0.087      0.099          0.078         0.082         5.13%        0.081        0.082        1.23%          On the other side, the banking sector was    bpd in September, according to a survey of       announced their net profit during the peri-
   Company                 Nov 04, 2010        Hold                                                                                                                                      down by 0.28 percent which cause limiting       oil companies, OPEC officials and ana-           od under review, 54 companies recorded a
                                                                                                                                                                                         this week’s gain. The food sector was the       lysts. The increase mainly reflects a            growth in net profit, versus 35 has retreat-
                                                 GCC & International Markets Currencies Cross rates                                                                                      only other loser among market sectors,          reduced impact on Angolan supply from            ed, while 13 companies reversed their last
                                                    Kuwaiti Dinar Exchange rate against other International Currencies                                                                   shedding 0.36 percent of its value.             maintenance work. Angola and other               year losses to report a net profit during this
Currency                                          KD                 US$            Euro              Pound                        Franc                 Yen                 Aus. $         Looking at the companies’ performance,       OPEC members have benefitted this year           period. These figures reflected the opti-
Kw Dinar                                            1             3.5740          2.5116              2.2097                      3.4632            289.3495                 3.5375      three of Global Investment House’s              from being able to pump more oil without         mistic outlook regarding Saudi companies’
US Dollar                                      0.2798                  1          0.7027              0.6183                      0.9690             80.9600                 0.9898      <GLOB.KW> start-ups were the top per-
Euro                                           0.3982             1.4230                1             0.8798                      1.3789            115.2061                 1.4085                                                      undermining prices, which have largely           continuous improvement after the global
Sterling Pound                                 0.4525             1.6174          1.1366                    1                     1.5673            130.9447                 1.6009      forming stocks for the week. First Dubai        traded within Saudi Arabia’s US$70-$80-a         financial crisis.
Swiss Franc                                    0.2888             1.0320          0.7252              0.6381                           1             83.5501                 1.0215      Real Estate Development Company                 barrel comfort zone.
Japanese Yen
Australian Dollar
                                               0.0035
                                               0.2827
                                                                  0.0124
                                                                  1.0103
                                                                                  0.0087
                                                                                  0.7100
                                                                                                      0.0076
                                                                                                      0.6246
                                                                                                                                  0.0120
                                                                                                                                  0.9790
                                                                                                                                                           1
                                                                                                                                                     81.7939
                                                                                                                                                                             0.0122
                                                                                                                                                                                  1      <FIRST.KW>,          Al-Mazaya        Holding      Kuwait’s crude oil exports to Japan                               KSE
                                                                                                                                                                                         Company <MAZA.KW> and Ekttitab                  plunged 41.8 percent in September from a            A preliminary agreement which will
                                                                                                                                                                                         Holding Company <EKTT.KW> added                 year earlier to 6.02mn barrels, or 201,000       pave the way for Emirates Telecom
                                            Kuwaiti Dinar Exchange rate against other GCC Currencies                                                                                     33.87 percent, 32.65 percent and 23.73 per-
Currency                                          KD                   US$               SR                 AED                      BD                   OR                    QR
                                                                                                                                                                                                                                         barrels per day (bpd), from the first decline    (Etisalat) <ETEL.AD> to acquire a majori-
Kw Dinar                                            1               3.5740           13.4028             13.1269                  1.3475               1.3768               13.0122      cent, respectively to the values of their       in two months, the government said. The          ty stake in Zain <ZAIN.KW> has been
US Dollar                                      0.2798                    1            3.7501              3.6729                  0.3770               0.3852                3.6408      share prices. Global Real Estate Sector         figure was the lowest since June, when its       signed. The offer from Etisalat is worth
Saudi Riyal                                    0.0746               0.2667                 1              0.9794                  0.1005               0.1027                0.9709      Index, ended the week up by 1.94 percent.       shipments dipped to 162,000 bpd. Kuwait,
UAE Dirham                                     0.0762               0.2723            1.0210                   1                  0.1026               0.1049                0.9913                                                                                                       around US$12bn, with the firm offering
Bahraini Dinar                                 0.7421               2.6524            9.9467              9.7419                       1               1.0218                9.6568      On the losers list, came newly listed Al-Rai    the seventh biggest oil provider to Japan’s      KD1.700 (US$6.06) per share. Due dili-
Omani Riyal                                    0.7263               2.5959            9.7347              9.5343                  0.9787                    1                9.4510      Media Group <ALRA.KW> followed by               crude, supplied 5.8 percent of Japan’s           gence is now set to commence. Etisalat
Qatari Riyal                                   0.0769               0.2747            1.0300              1.0088                  0.1036               0.1058                     1      Educational Holding Group <EDUK.KW>             crude, compared with 10.5 percent in the
Source: Reuters & Global calculations                                                                                                                                                                                                                                                     says that Zain offer is conditional on Zain
                                                                                                                                                                                         and Kuwait Slaughter House Company              same month of last year and 8.0 percent in       disposing of entire Saudi assets, and that
                      Sectors Ranked by Volume Traded                                                         Sectors Ranked by Value Traded                                             <KSHK.KW>, all of which are part of the         August, the Japanese Natural Resources           proposal will be terminated if definitive
Sector                                Volume Traded                     % of Total        Sector                                Value Traded (KD)                       % of Total       services sector, shedding 26.25 percent,        and Energy Agency, a unit of the Ministry        transaction is not agreed by January 15,
                                                                    Volume Traded                                                                                    Value Traded        17.24 percent and 15.87 percent, respec-        of economy, Trade and Industry, said in a        2011. Etisalat says to acquire 51 percent of
                                                                                          Investment                                     85,550,790                          27.26
Investment                                820,500,000                        34.83
                                                                                          Banking                                        76,106,450                          24.25
                                                                                                                                                                                         tively.                                         preliminary report.                              Zain’s total issued share capital, excluding
Services                                  707,375,000                        30.03                                                                                                          Global’s special indices had mixed clos-
Real Estate                               582,330,000                        24.72        Services                                       72,357,410                          23.05                                                          Kuwait Petroleum Corporation (KPC)            shares in treasury, and voting rights. The
Banking                                    94,605,000                         4.02        Real Estate                                    44,331,750                          14.12       ings. Global Islamic Sharia Index was up        will sell 54,000 tons of naphtha for late        company noted that it does not expect Zain
Industrial                                 65,365,000                         2.77        Industrial                                     19,631,940                           6.25       by 0.62 percent. Global Large Cap (Top          November loading, instead of a total of
Non Kuwaiti                                64,810,000                         2.75        Non Kuwaiti                                    10,736,120                           3.42                                                                                                        transaction to close before end of 1Q2011.
Food                                       18,997,500                         0.81        Food                                            4,676,590                           1.49       10) index also added 0.73 percent to its        74,000 tons as previously expected due to           Al-Mal         Investment         Company
Insurance                                   1,605,000                         0.07        Insurance                                         472,630                           0.15       value while Global Small Cap (Low 10)           lower production of its full-range grade,        <MALK.KW> said it received an offer to
                                                                                                                                                                                         Index went down by 0.46 percent.                traders said. KPC was initially expected to      sell a KD31.3mn (US$112mn) stake in an
                         Top Ten Stocks by Volume                                                                   Top Ten Stocks by Value                                                                                              sell 50,000 tons of full-range grade and
Company                                      Close         % Chg             Volume       Company                                          Close            % Chg           Volume
                                                                                                                                                                                                    Macroeconomic                        24,000 tons of light grade for November
                                                                                                                                                                                                                                                                                          energy company. Al-Mal noted that it will
National Ranges Company                      0.024         11.90%        252,560,000      National Bank of Kuwait                          1.340           -1.47%        34,138,400         Kuwait’s Central Statistical Office                                                           decide on a possible stale this month and it
Jeezan Holding Company                       0.070          0.00%        151,640,000      Zain                                             1.440            2.86%        21,199,550                                                      29-30 and November 25-26 loadings                may make a KD20.5mn gain from the sale.
                                                                                          Kuwait Finance House                             1.220            1.67%        16,838,250      released this week September consumer           respectively. But traders said buyer Shell
Al-Safwa Group Holding                       0.027          5.88%        129,120,000
                                                                                          National Investment Company                      0.540            5.88%        15,953,100      price data. On a year-on-year figure, the                                                           KIPCO Asset Management (KAMCO)
Al-Mal Investment Company                    0.144         16.13%        114,380,000
                                                                                          Al-Mal Investment Company                        0.144           16.13%        15,822,040
                                                                                                                                                                                                                                         will lift a total of 54,000 tons of naphtha in   <KAMC.KW> and ‘Anham’ FZCO LLC
Abyaar Real Estate Development Co.           0.036         -1.37%        110,240,000                                                                                                     inflation hit 18 month high reaching 5.3        late November at premiums of about
Al-Salam Group Holding Company               0.066          6.45%        108,000,000      Mabanee Company                                  0.880            2.33%        11,807,950
                                                                                                                                                                                         percent in September 2010, mainly driven                                                         plan a joint logistics firm to execute Anham’s
International Financial Advisors             0.065         -1.52%        106,520,000      Jeezan Holding Company                           0.070            0.00%        10,736,760                                                      US$15.00 a ton to Middle East quotes on a        prime vendor contract to supply the US mil-
Investors Holding Group Co.                  0.023          0.00%        101,920,000      Alafco Aviation Lease & Finance Co.              0.226           10.78%         8,232,360      by soaring food and housing costs, com-         free-on-board (FOB) basis.
Hits Telecom Holding                         0.086         11.69%         91,200,000      Hits Telecom Holding                             0.086           11.69%         7,918,840      pared to 4.4 percent in August and 2.5 per-                                                      itary said Sadoun Abdullah Ali, KAMCO’s
Al-Madina for Finance & Investment Co.       0.054         22.73%         72,200,000      Kuwait International Bank                        0.310           -3.13%         7,791,000
                                                                                                                                                                                         cent in September 2009. The month-on-                         Local News                         Managing Director and Chief Executive
                                                                                                                                                                                         month data showed that Kuwait’s con-              Kuwait came in second, in terms of the         Officer (CEO). He pointed out that this coop-
                               Top Five Gainers                                                                            Top Five Losers                                                                                                                                                eration reflects the beginning of a new affili-
                                                                                                                                                                                         sumer Inflation was up to 1.1 percent dur-      most economically free Arab nations in
Company                                      Close          % Chg             Volume      Company                                          Close            % Chg           Volume
                                                                                                                                                                                         ing the month of September compared to a        2010, according to the Canada-based              ation and strategic partnership between the
First Dubai Real Estate Development Co.      0.042         33.87%          15,120,000     Al-Rai Media Group                               0.118           -26.25%       10,800,000                                                                                                       two companies in the fields of specialized
Al-Mazaya Holding Company                    0.130         32.65%          31,260,000     Educational Holding Group                        0.072           -17.24%          120,000      0.4 percent recorded in August 2010 and a       Fraser Institute who awarded Kuwait a
Ekttitab Holding Company                     0.037         23.73%          42,080,000     Kuwait Slaughter House Co.                       0.265           -15.87%           10,000      0.8 percent recorded in September 2009.         score of 7.8 in their recent ‘Economic           logistics across the Middle East and North
Al-Madina for Finance & Investment Co.       0.054         22.73%          72,200,000     Al-Mowasat Health Care Co.                       0.104           -14.75%          180,000
                                                                                                                                                                                         Inflation in the world’s fourth largest oil     Freedom of the Arab World, 2010 Annual           Africa (MENA) and Asian region.
Mubarrad Transport Co.                       0.091         18.18%          27,800,000     Alargan International Real Estate Co.            0.172           -10.42%           20,000
                                                                                                                                                                                         exporter has risen over the past months         Report’. Bahrain was ranked first, achiev-                Continued on Page 37

				
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